TLDR
- Bloom Energy stock jumped about 13% Tuesday, bouncing back from Monday’s near 9% drop.
- Oracle reaffirmed its 2.4 GW commitment under Project Jupiter, even with a pipeline delay pushed to early 2027.
- RBC Capital kept its Outperform rating and $335 price target, pointing to a major manufacturing expansion in Fremont, California.
- Jefferies raised its price target to $264 from $229 while staying at Hold.
- Other AI power names like Vertiv and Micron also rose as OpenAI safety fears from Monday eased.
Bloom Energy (BE) stock climbed as much as 13% on Tuesday, trading near $300. That marks a sharp turnaround from Monday’s near 9% slide.
The fuel cell maker was one of the best performers in the S&P 500 for the session. The move followed a rough stretch tied to broader AI safety worries.
RBC Capital reiterated its Outperform rating on the stock Tuesday. The firm kept its price target at $335.
RBC pointed to Bloom’s decision to lease another 158,000 square feet at its Fremont, California facility. That space nearly matches the company’s entire existing footprint.
Analysts see the expansion as a sign that customer demand is outpacing earlier forecasts. Morgan Stanley’s David Arcaro called it a signal of continued strong demand.
Oracle Deal Still on Track
Bloom’s stock also got a lift from reassurances tied to its contract with Oracle (ORCL). The company confirmed Oracle reaffirmed its 2.4 GW fuel cell commitment under Project Jupiter.
The project remains on Oracle’s planned timeline. A key natural gas pipeline tied to the deal has been delayed to early 2027 because of permitting issues.
Jefferies raised its price target on Bloom to $264 from $229. The firm kept a Hold rating, saying the behind-the-meter thesis still holds even with some timing friction.
Ameren Corp (AEE) added to the positive backdrop. The utility recommended adding 500 megawatts of natural gas fuel cells through 2030 in Missouri.
Arcaro said that recommendation could be a near-term opportunity for Bloom. It falls within the utility’s baseline plan.
Other AI Power Stocks Follow
Bloom wasn’t alone in bouncing back Tuesday. Vertiv Holdings (VRT) rose about 3%, and Micron (MU) added close to 2%.
The gains came even as OpenAI scrapped the launch of a new model over safety concerns. The company had also paused training on its latest AI models a day earlier.
OpenAI’s head of safety systems, Saachi Jain, said the GPT-6.1 Astra model did not meet the bar for staying within scope. She noted the company has other new models coming that do clear that bar.
The broader market stayed mostly flat during the session. The S&P 500 slipped 0.04%, the Dow fell 0.2%, and the Nasdaq Composite ticked up around 0.2%.
That left Bloom’s rally as a company-specific story rather than a broad market move. The stock traded as high as $291.72 intraday, within a 52-week range of $70.89 to $351.28.
Investor attention now turns to OpenAI’s developer conference later Tuesday. CEO Sam Altman is set to deliver a keynote at 1 p.m. Eastern time.
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